Chairman of specialist retirement housebuilder gives hint over firm’s future
McCarthy & Stone chairman John White has raised the possibility of a future stock market flotation for the specialist retirement housebuilder.
McCarthy & Stone made a pre-tax loss of £11.8m on turnover of £311m in 2013, and completed a refinancing, which gave it cash to fund a £1.5bn growth programme.
Asked about a flotation, former Persimmon chairman White (pictured), who joined in September 2013, said all options were on table. “I couldn’t deny it looks like [we’re heading for flotation],” he said.
White is one of a number of recent hires with significant listed company experience, including new chief executive Clive Fenton, formerly of Barratt, and ex-Galliford Try finance director Frank Nelson.
For a full interview with John White, see Building next week.